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While the practice of competitive intelligence is as old as competition and private enterprise itself, it has emerged as a systematic discipline and a profession in the developed economies only in the last 30 years or so. In India its practice is relatively new, but expected to grow very rapidly. There are several reasons that come India’s proposed National Manufacturing Policy (NMP) has ambitious objectives of creating employment for 100 million people and taking the share of manufacturing in India from the current 16% to 25% by 2022. Competitive intelligence is a key ingredient that policymakers need to use for meeting this objective. Growth of manufacturing in India is being seen as How can small businesses in India do competitive intelligence (CI)? I had the opportunity to discuss this with a group of small businesses at the TiE breakfast event in Pune last month. Small businesses have limited resources at their disposal and need to figure out ways to do CI on small budgets. In developed economies “Data is what distinguishes the dilettante from the artist.” – George V. Higgins Yet, reliable data is so hard to find in the Indian business context, that very few companies operating in the country factor it into their decision-making; most are forced to rely more on gut feel and anecdotal evidence. Why is data so hard to All companies monitor their competitive environment. Although competitive intelligence is not a formal function in most companies, other functions like marketing, operations and finance keep tabs on what the competition is up to, what the economic environment is looking like, what the customers are thinking, etc. The cost of neglecting this activity can be very |
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